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So who did he banks loan money to in order to get in this much trouble? From this small survey, can it be deduced that most Americans are paying their bills and staying pretty much debt-free? I think so.
Not really. I think that many people would feel uncomfortable posting their financial data on the internet. I process credit card applications for my rentals, and I can tell you that many people have tons of debt. My DH also processes credit applications for his job and the picture is not pretty there, either.
38 widower, 2 kids
135k on home. (8-9 years left to go at 5.75% fixed, debating paying some/all of it off but the rate is low and I'd probably prefer to stay more liquid)
24, married
25K on 2 cars, one is 18 months and the other is 6 months old
1400 in interest free store credit
+
10K and growing in savings to go to the down payment of a house
Car paid off by my parents! $651.51 USD in CC debt!
I think we've found the secret to staying debt free!
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